Childrenswear specialist Kidiliz about to be bought by Chinese group Semir
today May 3, 2018
French childrenswear giant Kidiliz, owner of Catimini and Absorba, and Chinese group Semir, are holding “exclusive negotiations” to form the world’s second-largest conglomerate in the sector, worth a combined revenue of €2 billion, according to a joint press release issued on Thursday. "Once the transaction will be finalised, the Semir group will acquire Kidiliz Group in full, with the support of its management,” they stated.
The Zannier group - rechristened Kidiliz in 2016 - has a portfolio of 15 brands, among them Catimini, Z, Absorba, Chipie and Lili Gaufrette, and is the European leader in premium fashion for children.
The group’s labels are distributed via 11,000 stores worldwide, of which 830 are directly owned, and they sell 40 million items each year in 80 countries. Last year, Kidiliz Group’s revenue was €427 million, of which more than half was produced outside France. The group has 3,500 employees worldwide, of whom nearly 2,000 are based in France.
As for Zhejiang Semir Garment, it is a leading Chinese childrenswear company, operating 8,000 monobrand stores and generating a revenue of €1.6 billion. The group has been listed on the Shenzhen stock exchange since 2011, and has a stock market capitalisation of €3.9 billion.
“The merger” of the two groups “will form the world’s second-largest childrenswear corporation,” said the future partners in the press release, adding that the operation “will allow Kidiliz Group to bolster its European expansion and accelerate its deployment on the Chinese market. As for the Semir group, it will be able to increase its know-how in the premium children’s apparel market.”
"Semir will provide the resources necessary to consolidate our growth in Europe and broaden our presence in China", said Rémy Baume, President of Kidiliz Group, quoted in the press release.
According to Sam Qiu, President of the Semir group, "this transaction is a strategic, exciting new direction for the group, with the very clear ambition of creating a worldwide children's fashion leader by uniting our two companies.”
“Our assets are highly complementary and there are synergies in terms of market access and worldwide sourcing. In the short term, we expect to generate higher growth in our respective markets,” he added.
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